Thai Oil Public Company Limited

About This Report

Brief Excerpt:

...On 26 January 2010 Fitch Ratings affirmed Thai Oil Public Company Limited's (TOP) ratings and revised the Outlook to Negative from Stable. The Outlook revision reflects TOP's higherthanexpected financial leverage (measured against cash flow) in 2009. The continuing weak operating environment could result in a further delay in the company's deleveraging in the next two years, while its credit metrics are stretched for the current rating level....

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